What was one of the first things President Hoover did to combat the effects of the Great Depression?

History

2 answers:

Rasek [7]3 years ago

6 0

He did nothing, thinking the economic crisis would mend itself with time.

Hoover was a laissez-faire Republican who believed the government should not interfere with the economy.

Hoover's approach to the Great Depression was to do nothing initially. He believed it was a normal part of the boom-bust economic cycle. As the Depression moved on, Hoover used a method of volunteerism. Volunteerism asked those with money to give to others and to invest their money back into the banks and job creation.

AVprozaik [17]3 years ago

3 0

He asked businesses to decrease production and increase employment.

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